What's on Jim Cramer's mind Friday?
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Good morning, I'm Katherine Ross, and I'm here with Jim Cramer. We're joining you via Skype this morning in our efforts to do our part of social distancing. So, Jim, what's top of mind for you this morning?
Top of mind is oil. Oil must hold $20 a barrel. I talk all the time to my friend, Rusty Braziel at rbn.com about this. He does the best energy work in the world. And he's talking about how they're still pumping 13 million barrels, this country. We have no ... we still have some room for it, but it's being reserved by some of the tank companies because they think it's going to really breakdown. If it really, really breaks down, then we are going to see the algorithmic programs trash the market. If it doesn't, if oil goes up, I think that what you're going to see is a stabilization and then maybe another run. But oil is crucial here, and I know that there's so much supply. If the president doesn't make some sort of deal with the Saudis or the Russians, then you are going to see oil go lower. There's just too much in the world.